Many people are trying to tighten their belts right now.
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Mortgage rates – and repayments – have risen significantly since this time last year.
A new act in Canada bans non-citizens, non-permanent residents and foreign commercial enterprises from buying Canadian residential properties.
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Since foreign owners only represent a tiny segment of the housing market, it’s unlikely that Canada’s new ban on foreign homebuyers will make homes more affordable for Canadians.
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While UK inflation could drop again in 2023, there is a lot of work to do to support the country’s economy.
Many countries are dealing with a rapidly rising cost of living.
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January 6, 2023
Alan Shipman , The Open University ; Aymen Smondel , Université Côte d’Azur ; Bhima Yudhistira Adhinegara , Center of Economic and Law Studies (CELIOS) ; John W. Diamond , Rice University ; Luis Garvía Vega , Universidad Pontificia Comillas ; Mohamad Hassan Shahrour , IAE Nice - Université Côte d'Azur ; Peter Martin , Crawford School of Public Policy, Australian National University , and Wayne Simpson , University of Manitoba
Price inflation has hit countries differently, but most central banks and governments are concerned about the rising cost of living in 2023.
This could get ugly.
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Central banks are raising interest rates to tame inflation, but 2023 will increasingly turn a technical decision into a political challenge.
Although a recession is likely on the horizon, it’s uncertain how deep it might go.
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Although many say the economic outlook for next year appears bleak, there is room for optimism.
Different accounts, different interest rates.
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Mortgage rates have rocketed in recent months, but what about the rate on your savings account?
Unbearable pressure: Fed Chair Jay Powell.
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Central bankers are set to slow down their rate hikes.
The Fed is taking aim at its inflation target.
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The Fed is waging war to get inflation down to its preferred level of around 2%. An economist explains what’s so special about that number.
The Bank of England in Threadneedle Street, London is the Central bank of the United Kingdom.
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The Bank of England expects a long UK recession but believes interest rates may not need to increase much more.
Mortgages can haunt homeowners.
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With 30-year fixed rates hitting a 20-year high of 7%, a finance scholar explains where these life-altering loans originated.
Staving off both recession and a financial crisis may take more than a hope and a prayer.
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The Fed is also beginning to reduce its massive balance sheet, which is beginning to cause disruptions in the $24 trillion Treasury market.
Bank of Canada Governor Tiff Macklem arrives at a press conference in Ottawa on Oct. 26, 2022.
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Because central banks delayed interest rate increases early in the pandemic, they have spent 2022 playing catch-up with runaway inflation.
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Debt is becoming unaffordable.
Another prime minister shown the door.
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Only months into the job, Prime Minister Liz Truss is on her way out already, leaving her government in search of a new leader and a way to regain public trust.
“Mortgage approved”: an increasingly unlikely outcome in the current environment.
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Borrowers want to know when soaring mortgage rates will go down again.
Battlestations: Bank of England Governor Andrew Bailey.
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And don’t be surprised if a sovereign downgrade makes the problem even worse.
Rise and fall?
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A deepening recession risk will keep home ownership out of reach for many.
Will he stay or will go?
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The expected relationship between government and central bank policy has broken down in the UK.
The Bank of England has indicated that the UK may have already entered a recession based on preliminary data.
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Explaining why it can be so difficult to pinpoint whether or not an economy is in recession.